How to Save for College

Invest in your education

Ways to Save for College

College is expensive. For many careers in this high-tech, high creativity world, education is not just a pathway to success; it's almost a necessity. It's a good idea to begin planning and saving for higher education as early as possible. Some experts predict that within the next couple of decades, college costs could be in the range of half a million dollars. Whether you're saving for your own or for a loved one's education, you're making a worthwhile investment that can be maximazed by putting you money in an account that will grow your savings.

Investment Account Types For College Savings

Money Markets Offer Liquidity

With up to six transfers available per month, Money Markets offer a flexible alternative for college savings. With a minimum deposit of $1,000 and terms from six months to 60, you can still use the money in the interim if you need it, but rack up more interest if you don’t.

Certificates of Deposit: High Interest

CUTX CDs have competitive interest rates and terms from six months to 60. Another good alternative for saving money for college, you retain the flexibility to use the money if necessary. The more you save, the more you earn, which helps maintain momentum for long term savings.

Start With a Savings Account

For many people, Money Markets and Certificates of Deposit might be phase two of the college savings plan. You can begin with a regular savings account that earns interest after a deposit of only $100. A journey of a thousand miles begins with a single step, the Chinese proverb says.

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